What did the Export Guarantee Fund of Iran do to boost production and exports?
Iran Export Guarantee Fund, as the only Export Credit Insurance Institution (ECA) in Iran, which is the counterpart of institutions such as Sache Italy, Hermes Germany and Sanasor China, plays an important role in the development of non-oil exports by issuing various types of insurance policies and credit guarantees.
According to the International Iranian Stone Exhibition, while the many problems of banking and insurance relations due to unfair US sanctions have had an adverse effect on the country's trade relations with foreign markets, this fund has made significant achievements in recent years, especially in It has gained the year 1398 and the previous year and has significantly eliminated the presence of Iranian banks in foreign trade by designing alternative products. However, this issue has been less covered by the media in order to avoid US sanctions, and only export activists have been informed about it.
The summary of the quantitative and qualitative performance of the fund in 1398 and the first 6 months of last year to achieve a jump in production and also reduce the negative effects of sanctions and the spread of the Corona virus on the country's exports is as follows:
A- 1) Quantitative performance in 1398, last year estimate and targeting this year to million dollars
1- The total volume of risk coverage of the Export Guarantee Fund of Iran through the issuance of insurance and credit guarantees in 1398 was equal to 2.6 billion dollars, which shows a growth of 20% compared to 1397 and 18.6% compared to 1394.
2. The Export Guarantee Fund also provided $ 1.3 billion in export coverage in the first six months of last year, an increase of 94% over the same period last year. Non-oil exports may have fallen sharply.
3- The volume of coverage performance in the section of short-term export credit insurance policies with a record of 1279 and 1269 percent compared to 1394.
4. Also, the fund's performance in this sector in the first six months of last year reached $ 976 million, which shows a growth of 96% compared to the same period last year.
5- In the field of supporting the export of technical and engineering services, the volume of medium and long-term insurance coverage has reached 128 million dollars, which has a growth of 3100 percent compared to the same period in 1398.
6- Export coverage ratio (share of fund coverage of non-oil exports) in 1398 has reached 6.7 percent and in the first 6 months of last year has reached about 10 percent. This is while the average of this coefficient in the counterpart institutions of the fund in developed countries is 2% and in Turkey as an export competitor of Iran is 7%.
A- 2) Qualitative performance in 1398 and 6 months of last year with the focus on international role-playing, counter-sanctions, regulation of economic diplomacy and filling the gap of banking sanctions:
Membership of the Export Guarantee Fund of Iran in international unions such as the Union of Credit and Investment Insurers known as the "Berne Union", and the Union of Credit and Investment Insurers of Islamic countries, called the "Union of Safe" has provided a unique opportunity to From this international capacity, to some extent, the vacuum of international restrictions on Iranian banks due to sanctions will be removed. In this regard, successful negotiations have been held with peer institutions to design alternative tools for banking products (with the aim of countering banking sanctions) and have been operational in some markets.
Winning the board of directors of Aman Union for 2020-2021 with the consensus of Islamic countries due to the highest performance of the fund among similar institutions, negotiating to reduce Iran's risk with ECA members of the Organization for Economic Cooperation and Development (OECD) leading to a two-step reduction Iran's risk increased from 7 to 5, which unfortunately was lost after the withdrawal of the United States from Borjam. Negotiating with the government and the central bank Leap acceptance of the fund's guarantees in the tenders of these countries, covering the risk of pure trade with Imidro, issuing direct guarantees required by contractors to enter foreign tenders instead of the banking system, expanding exporters' access to financing Through the capital market, یل Facilitate and create an advantage for the sale of goods on the Commodity and Energy Exchange in the export ring on a long-term basis, covering the main risks arising from sanctions, especially the risk of expropriation and confiscation and transfer of currency.
